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Copyright ©2011 Levi & Korsinsky, LLP
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| IntraLinks Holdings, Inc. |
| IntraLinks Holdings, Inc. (NYSE: IL) shareholder litigation in connection with alleged securities fraud |
Levi & Korsinsky announces that a class action
lawsuit has been commenced in the United States
District Court for the Southern District of New York
on behalf of investors who purchased IntraLinks
Holdings, Inc. ("IntraLinks" or the "Company")
lawsuit has been commenced in the United States
District Court for the Southern District of New York
on behalf of investors who purchased IntraLinks
Holdings, Inc. ("IntraLinks" or the "Company")
(NYSE: IL) common stock between February 17, 2011 and November 10, 2011.
The complaint alleges that defendants misrepresented the robustness of its sales and the nature of
the Company’s relationships with its primary retail customers and also failed to disclose that the
Company's growth rate had slowed, particularly in their Extended Enterprise feature. On May 11,
2011, the Company disclosed that they would be curtailing their projected earnings, largely in part
due to the reduction in the Company’s products by a customer heavily utilizing their Extended
Enterprise feature. Consequently, the Company’s stock price declined from $29.99 per share to
$20.22 per share. On August 10, 2011, the SEC issued to the Company a subpoena requiring
disclosure of particular business documents. As a result, IntraLinks shares continued to drop in
price from $12.16 per share to $6.64 per share. On November 8, 2011, IntraLinks disclosed
ongoing issues with the Extended Enterprise feature of the Company. In reaction to this news, The
Company’s stock dropped further from $8.79 per share to $4.80.
If you suffered a loss in IntraLinks you have until February 4, 2012 to request that the Court
appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as
a lead plaintiff.
The complaint alleges that defendants misrepresented the robustness of its sales and the nature of
the Company’s relationships with its primary retail customers and also failed to disclose that the
Company's growth rate had slowed, particularly in their Extended Enterprise feature. On May 11,
2011, the Company disclosed that they would be curtailing their projected earnings, largely in part
due to the reduction in the Company’s products by a customer heavily utilizing their Extended
Enterprise feature. Consequently, the Company’s stock price declined from $29.99 per share to
$20.22 per share. On August 10, 2011, the SEC issued to the Company a subpoena requiring
disclosure of particular business documents. As a result, IntraLinks shares continued to drop in
price from $12.16 per share to $6.64 per share. On November 8, 2011, IntraLinks disclosed
ongoing issues with the Extended Enterprise feature of the Company. In reaction to this news, The
Company’s stock dropped further from $8.79 per share to $4.80.
If you suffered a loss in IntraLinks you have until February 4, 2012 to request that the Court
appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as
a lead plaintiff.
